Money Management Executive Latest News

You’ve heard of structured products. These largely were (and are) complex securities based on lots of streams of cash in underlying loans whose flows were not well predicted. There was a credit crisis associated with them in 2008.

Bank of America’s Global Wealth and Investment Management business saw its 2011 fourth quarter net income decline precipitously compared to the fourth quarter of 2010 as lower transactional activity offset higher net interest income and asset management fees.

The Dow Jones Industrial Average’s 30 component companies said they expect to pump up their annual dividend payouts by 12.3% in 2012 to almost $105 billion.

The Securities and Exchange Commission has joined the U.S. Department of Justice in approving the merger of NYSE Euronext with Deutsche Boerse.

inShare WASHINGTON — The regulators charged with implementing the Volcker Rule have posed a whopping 1,300 questions to the public, but on Wednesday, they fielded one query they seemingly hadn't considered.Rep. Michael Grimm, R-N.Y., described a scenario in which a foreign firm with no U.S. operations sells a security, as a part of a proprietary trading strategy, to an American firm.

Investors steered $1.43 billion into stock mutual funds during the week ended Wednesday, Jan. 11, breaking a near nine-month spell of investor redemptions that totaled more than $172 billion, according to the latest statistics from the Investment Company Institute.

The Securities and Exchange Commission announced Tuesday that it fined UBS Global Asset Management $300,000 for overvaluing 48 mortgage-backed securities purchased for $22 million.

With great wealth comes great responsibility. That’s the thinking of most American millionaires, according to a survey released today by PNC Wealth Management.

Planners have taken note of the fact that clients with incomes of $1 million or more were twice as likely to be audited by the IRS in 2011 than they were in 2009. Several say they are taking steps in anticipation of still greater vigilance on the part of the agency.

Retail investors in municipal bonds got whipsawed in 2011.